Why Dogecoin Founder Billy Markus Believes That Ethereum Will Reach $100,000
Dogecoin co-founder Billy Markus (also known as Shibetoshi Nakamoto) has given an interesting prediction into how high Ethereum (ETH) could rise. He made this statement while suggesting that he invested heavily in the second-largest crypto token.
Ethereum To Rise To $100,000
In an X (formerly Twitter) post, Markus raised the possibility of Ethereum rising to $100,000, remarking that he needs the crypto token to reach this price level so he can finally purchase a house in Los Angeles. Markus’ prediction for ETH is undoubtedly one of the most ultra-bullish predictions for the crypto token and ETH reaching this price mark will be huge.
For one, Ethereum rising to $100,000 will give it a market cap of $12 trillion based on its current circulating supply. That will place the crypto token way above the most valued companies in the world based on their market cap. Meanwhile, it will also mean exponential growth for the crypto market as a whole, given that other crypto tokens like the flagship crypto, Bitcoin, will see their prices also rise significantly.
Meanwhile, several factors will have to contribute to ETH reaching such heights. Firstly, the crypto token will have to enjoy mainstream adoption on an unprecedented level. That means that the crypto token will be widely adopted not just by retail or even institutional investors but also by different countries and their central banks.
Furthermore, the Ethereum network will have to address scalability in its entirety, as it could be a major stumbling block to its adoption. Ethereum’s development team has undoubtedly made progress, especially with the recent Decun upgrade. However, there is evidently room for more improvement if the network is to be adopted by people from all walks of life.
In the meantime, ETH is still expected to experience significant growth, although nowhere close to $100,000, given how it has firmly established itself as the second-largest crypto token. Recent developments like the potential approval of the Spot Ethereum ETFs also paint a bullish outlook for ETH.
How High Can ETH Rise In This Bull Run?
Crypto analysts like Altcoin Daily and CrediBULL Crypto have given insights into how high Ethereum could rise in this bull run. Altcoin Daily mentioned that Ethereum’s rise to $10,000 is “programmed.” Interestingly, he alluded to the Spot Ethereum ETFs as one of the factors that will drive this price surge.
CrediBULL Crypto gave a more bullish prediction, stating that Ethereum could hit a market peak of almost $20,000. He explained that this price target was attainable based on his belief that Bitcoin can still see a 2x increase from its current price level.
At the time of writing, Ethereum is trading at around $3,790, up in the last 24 hours according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
